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| Author: | Smith, S. C. Yates, A. J. |
| Title: | Optimal pollution permit endowments in markets with endogenous emissions |
| Journal: | Journal of Environmental Economics and Management
2003 : NOV, VOL. 46:3, p. 425-445 |
| Index terms: | learning pollution pollution control |
| Language: | eng |
| Abstract: | This paper introduces static and dynamic models of pollution permit markets with endogenous emissions. The optimal permit endowments are characterized with when the regulator faces uncertainty about the severity of the citizens' collective action problem. Due to the possibility of learning over time, the regulator issues a larger number of permits in the first period of the dynamic model than in the static model. |
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